November 14, 2017
Caught red-handed, the Queen of England is back in the public eye.
This time Queen Elizabeth’s name is not popping up in the gossip pages of British tabloids but on the daily headlines of major newspapers in England and abroad for her involvement in tax haven schemes to hide her wealth.
A recent investigation into tax havens point fingers at the rich and famous including Queen Elizabeth. The investigation, known as the Paradise Papers, is the work of journalists and researchers associated with International Consortium of Investigative Journalists.
An article by Simon Basketter in the The Dawn website offers a glimpse of the latest scandal:
Some 13.4 million files reveal the ways that the rich and powerful are protecting their wealth using a web of offshore accounts. The documents show multinational companies going on tax haven shopping sprees in Africa and Asia using shell companies in Mauritius and Singapore to reduce taxes.
Basketter also details the Queen of England’s involvement in tax haven practices:
The Duchy Of Lancaster, which pays the queen and handles her estates, invested in companies such as BrightHouse, which makes cash from high interest hire purchase sales to poor people. It recently had to pay back £14.8 million in compensation to 250,000 people it had scammed.
Read more here.